top of page
  • Moneycontrol

Jio Financial becomes second-largest NBFC with Rs 1.66-lakh-cr valuation

With a market capitalisation of Rs 1.66 lakh crore, Jio Financial Services (JFS) made its debut on the bourses on August 21 as the second-largest listed NBFC after Bajaj Finance. As of the August 18 closing price, Bajaj Finance boasted of a market cap of Rs 4.15 lakh crore. Bajaj Finserv, which has a market cap of Rs 2.32 lakh crore, is more of a financial services holding company than an NBFC.

Market observers expected the listing Mcap for JFS to be much greater than the implied value of Rs 1.65 lakh crore as the shares were trading at a premium of Rs 50 in the grey market. Based on the grey market value, if the stock had listed at Rs 300, then its market cap would have worked out to Rs 1.9 lakh crore.

Read more at Moneycontrol

bottom of page